Sensex, Nifty slip as Reliance slide overpowers IT gains
Indian shares reversed intraday gains on Thursday, as a slide in Reliance Industries overpowered the rise in IT stocks, while investors turned their focus to the release of Reserve Bank of India’s (RBI) policy meeting minutes, after market hours. The Nifty 50 settled 0.29 per cent lower at 19,386.70, while the S&P BSE Sensex fell […]
Vishnu Prakash R Punglia garners ₹92 cr from anchor investors
Vishnu Prakash R Punglia Ltd on Wednesday raised ₹92 crore from anchor investors ahead of its initial public offering (IPO), which opens on Thursday. The company plans to raise about ₹309 crore from the IPO and fixed the price band at ₹94-99. The issue will be open till August 28 for public subscription. The Engineering, […]
Rupee edges up 7 paise versus dollar in cautious trade
The rupee was trading in a narrow range and appreciated by seven paise against the US dollar in early trade on Wednesday, amid a muted trend in domestic equities. Forex traders said the rupee is trading in a narrow range as investors remain cautious ahead of the BRICS summit and US Federal Reserve Chair Jerome […]
Weekly rupee view: Rupee stays in the bear zone despite a rally
The rupee inched up over the past week against the dollar. On Tuesday, the rupee appreciated by 0.2 per cent to close the session at 82.94. Supporting the upside, the net FPI (Foreign Portfolio Investors) flows have been positive over the past week. According to the NSDL (National Securities and Depository Limited) data, the net […]
Broker’s call: JK Cement (Reduce)
Target: ₹3,164 CMP: ₹3,096.05 JK Cements reported results largely in line with our estimate at EBITDA level. The company has restated its financials to factor in the effect of amalgamation of its subsidiary Jay kay cem central ltd (recently commissioned Panna and Hamirpur plants) with the parent and as a result, Q1-FY24 and Q4-FY23 numbers […]
Mentha oil prices surge 18% on output decline, promising market outlook ahead
Mentha oil prices have surged 18 per cent in just 18 days, hitting a 4-month high on the back of an expected fall in output. Anticipated robust winter demand from FMCG industries and consistent export inquiries will further bolster its prices. Moreover, the export market could benefit from rupee depreciation. These factors collectively shape a […]
FPIs infuse ₹8,400 crore in equities this month on global uncertainty, China concerns
Foreign Portfolio Investors (FPIs) have infused close to ₹8,400 crore in Indian equities so far this month primarily due to uncertainty in the global markets, economic concerns in China, and stability of the domestic economy. With the global economic mood getting challenging due to slackening Chinese demand, any weakness in global equities […]
Meta Platforms Emerges as a Promising Choice Amid AI Evolution
This year has undoubtedly belonged to the pack of stocks referred to as the Magnificent Seven. Till early June, which was when the YTD rally in the US markets started getting broader, this group alone had accounted for over 80 per cent of the upside in the Nasdaq 100 index (up 33 per cent till […]
Broker’s call: Ircon Intl (Buy)
Target: ₹142 CMP: ₹100.22 In Q1FY24, the company reported a notable increase in revenue, reaching ₹2,717.20 crore, which marked a substantial 36 per cent year-on-year growth. However, there was a decline of 28 per cent in revenue compared to the previous quarter. The EBITDA for the same period amounted to ₹208.80 crore, indicating a commendable […]
Jio Financial shares to be listed on August 21, remain part of FTSE indices
Following the de-merger from Reliance Industries, shares of the financial subsidiary Jio Financial Services will be traded on the bourses from August 21, the first such listing for the Reliance Group in the last 17 years. The share price was set at ₹261.85 in a price discovery session on July 20, valuing the company at […]